Mauna Lani Resort Market Update
It’s a great time to buy in the Mauna Lani Resort on the Kohala Coast on the Big Island of Hawaii. With the beginning of the busy real estate season in Hawaii, it’s a good time to see how the market is shaping up in one of the most popular upscale resorts on the island. While some of the owners at this resort are full-time residents, most use their condominiums as vacation homes and or investments. Visitors to the island are often in the mood to buy a piece of paradise.
The resort boasts 9 condominium developments and several enclaves with detached homes. Observing the number of condominium units for sale in each complex compared to units sold in the previous 12 months we get an idea of how many months of inventory are available. Six months of inventory reflects a balanced market. Less than six defines a Seller’s Market and more than eight a Buyer’s Market.
Where to Look for Possible Bargains
Inventory is flush at the Villages, with 20 months of inventory. Luxurious 3 bedroom units have been selling for $900,000 – $1.3M. At Mauna Lani Point 1 and 2 BR units have 12 to 24 months of inventory. Over the past 12 months, these have been selling for $618,000 – $1.6M. Mauna Lani Terrace is another $1M plus complex that has 12 months of inventory for 1 and 2 BR units that cost from just under $1M to just under $2M.
Palm Villas has the lowest entry-level price in the resort selling at $434,000 – $445,000 and has 12 months of inventory. Golf Villas is chock full of listings with 10 and 16 months inventory for 2 and 3BR units respectively.
Prices here range from $465,000 – $745,000.
In Ka Milo, 3 BR duplexes have 12 months of inventory and can fetch from $820,000- $945,000. It’s neighbor, Kulalani, has over 10 months of inventory for 2 BR that have been selling for $598,000 – $834,000.
The Islands at Mauna has absolutely no inventory. Nothing. If you are an owner and thinking of selling, now is the time. Sales prices this year have ranged from $640,000 to $1,120,000.
The Islands at Mauna Lani is a low density development with golf course and mountain views.
Other zero inventory areas are the Mauna Lani Terrace and Mauna Lani Point 3 bedroom condominiums. Ka Milo has no 4 bedroom units available right now as well.
The Fairways has an unusually low 6 month inventory for 2 BR units.
If you would like information or a Comparative Market Analysis of your condominium, please contact me. If you are planning to be on the island in the next 6 months and considering purchasing property here, please give me a shout.
Until then, malama pono and a hui hou.